LloydsTSB & Cabot Finance

[apples]

Hi all,

Just a quick question for you all if you could help.

Back in 1999 - 2000' LloydsTSB offered me a credit card with a £1000 limit, this was accepted by me and had no problems, until few months later they kept increasing the amount on the card, it got to around £3800 and what I was paying per month was only just covering the interest.

Around 2006 I went through payplan and they offered LloydsTSB £1 a month and for Lloyds to freeze the interest, LloydsTSB accepted and this has been going on since.

Around 6 weeks ago I was getting calls from Cabot finance (never answered to begin with) done a noddle credit check and it seems LloydsTSB sold my debt to Cabot while the £1 agreement was in place, also failed to give Cabot my current address, Lloyds have my new address, Cabot my old address.

Cabot contacted me and I answered the first week in June and offered me to pay £1575 off my £3934 debt and that would be that, I asked them to send me this in writing, also asked them to call me back within a week, no call back, nothing in writing even tho I gave Cabot my current address and it is updated on my noddle report.

I sent a CCA request to Lloyds over 2 weeks ago and not heard anything back from them, so I have recently sent them a reminder.

Where do I stand as Lloyds or Cabot haven't told me in writing that Lloyds sold debt or Cabot now have ? Also no inductory pack from Cabot ?

Thanks

[apples]

LloydsTSB and Cabot Finance

Hi all,

Just a quick question for you all if you could help.

Back in 1999 - 2000' LloydsTSB offered me a credit card with a £1000 limit, this was accepted by me and had no problems, until few months later they kept increasing the amount on the card, it got to around £3800 and what I was paying per month was only just covering the interest.

Around 2006 I went through payplan and they offered LloydsTSB £1 a month and for Lloyds to freeze the interest, LloydsTSB accepted and this has been going on since.

Around 6 weeks ago I was getting calls from Cabot finance (never answered to begin with) done a noddle credit check and it seems LloydsTSB sold my debt to Cabot while the £1 agreement was in place, also failed to give Cabot my current address, Lloyds have my new address, Cabot my old address.

Cabot contacted me and I answered the first week in June and offered me to pay £1575 off my £3934 debt and that would be that, I asked them to send me this in writing, also asked them to call me back within a week, no call back, nothing in writing even tho I gave Cabot my current address and it is updated on my noddle report.

I sent a CCA request to Lloyds over 2 weeks ago and not heard anything back from them, so I have recently sent them a reminder.

Where do I stand as Lloyds or Cabot haven't told me in writing that Lloyds sold debt or Cabot now have ? Also no inductory pack from Cabot ?

Thanks

[Celestine]

Re: LloydsTSB and Cabot Finance

LOL typical Lloyds, typical Cabot. Very lazy, sloppy work.

OK, so you sent a s.78 CCA request to Lloyds 2 weeks ago? Recorded delivery? Enclosed £1 fee? Has that been cashed/received?

Possibility the assignment was sent to old address, you should have at least received a 'hello we're Cabot letter'?

As things stand, assignment is not good, so do not deal with Cabot and if you do need to, keep everything in writing. I would be amazed if Lloyds can produce compliant documents for your s.78 request, but let's wait and see what you get before we jump to conclusions.

[FlamingParrot]

Re: LloydsTSB & Cabot Finance

Debts are usually sold in bulk, often without providing any details of the account, however, you should have received a Notice of Assignment to Cabot. See this for reference: http://www.legalbeagles.info/forums/...0627#post70627

The CCA request is intended to assess the enforceability of the account rather than the current ownership. You just have to wait and see what Llodys come back with. Do bear in mind that, as long as you are making payments, even just £1/pcm, the debt will never go statute barred.

[apples]

Re: LloydsTSB & Cabot Finance

Thanks for the replies, the CCA was sent recorded signed for and Lloyds signed for it on the 11th, the £1 postal order was enclosed, not checked if it has been cashed yet (unsure how as all I have is a reference number on the receipt) Lloyds have my new address since 2011, but failed to pass it on to Cabot when they sold them the loan, so no letter whatsoever from either party, I even gave Cabot my current address.

I am still paying the £1 a month using the pay-in-book Lloyds provided me to do this with

[Celestine]

Re: LloydsTSB & Cabot Finance

I'd carry on paying until we've seen how they respond. Now the waiting game.....

[apples]

Re: LloydsTSB & Cabot Finance

Was just wondering, what happens if Lloyds dont reply to the reminder regarding the CCA request ? Not heard anything yet but it's only been 6 days, but if they have sold the debt to Cabot, they may not reply at all ?

[FlamingParrot]

Re: LloydsTSB & Cabot Finance

Was just wondering, what happens if Lloyds dont reply to the reminder regarding the CCA request ? Not heard anything yet but it's only been 6 days, but if they have sold the debt to Cabot, they may not reply at all ?

They should still reply regardless of whether the debt has been sold. If you had sent the CCA request to the debt purchaser, they'd have to go back to the bank to request the documents as you'd never have had an agreement with a debt purchaser.

[apples]

Re: LloydsTSB & Cabot Finance

I sent the CCA to the bank who I took the debt out with, although I haven't been told by the bank or Cabot its Cabot that seems to have the debt now, was going to send of a CCA to Cabot but have no ref / account number, I also called RM this morning and the £1 P.O has not been cashed

[charitynjw]

Re: LloydsTSB & Cabot Finance

If you mention a Notice of Assignment, you'll probably find that one will 'magically' appear.

Damn handy, those 'John Bull' printing sets.

[FlamingParrot]

Re: LloydsTSB & Cabot Finance

I sent the CCA to the bank who I took the debt out with, although I haven't been told by the bank or Cabot its Cabot that seems to have the debt now, was going to send of a CCA to Cabot but have no ref / account number, I also called RM this morning and the £1 P.O has not been cashed

No need to send another CCA request to Cabot, as long as you have proof that you sent one to the bank, that should suffice. I don't know how you know that Cabot own the debt if you haven't received a Notice of Assignment from them, :confused2: I'd wait till they write to you, then send an account in dispute letter stating that the bank has yet to respond to your CCA request. Do post up when Cabot finally write. :typing:

Did you send the CCA request by Recorded Delivery? If so, have you tracked it? :ohwell:

[apples]

Re: LloydsTSB & Cabot Finance

No need to send another CCA request to Cabot, as long as you have proof that you sent one to the bank, that should suffice. I don't know how you know that Cabot own the debt if you haven't received a Notice of Assignment from them, :confused2: I'd wait till they write to you, then send an account in dispute letter stating that the bank has yet to respond to your CCA request. Do post up when Cabot finally write. :typing:

Did you send the CCA request by Recorded Delivery? If so, have you tracked it? :ohwell:

Hi,

I kept getting calls from a certain number, when I googled the number it came back to Cabot, so then I done a Noddle credit report and thats how I found out Lloyds had sold the debt as it had settled next to the debt, and Cabot default, although Lloyds never gave Cabot my current address (have a print out of this)

When I finally answered to Cabot they offered me the reduce F & F I asked for this in writing giving them my current address and still nothing and not heard from them since (this was the beginning of June)

The CCA was sent recorded and was received early last month, also the reminder was sent recorded and that was received on the 11th

[Celestine]

Re: LloydsTSB & Cabot Finance

So basically that is non compliance with your s.78 request; which renders the debt unenforceable.

As Lloyds have now sold the debt to Cabot, I personally would stop paying £1 to Lloyds using the book.

[apples]

Re: LloydsTSB & Cabot Finance

But what if I haven't been told the debt was sold ? I had an agreement with LloydsTSB on a DMP, they broke the contract by selling my debt and not even telling me ?

The reminder for the CCA request is up tomorrow (wednesday) and still haven't heard anything ?

I'm confused as to what to do, or where I go from here if i'm honest :tinysmile_hmm_t2:

[Celestine]

Re: LloydsTSB & Cabot Finance

Not being told that the debt has been sold is relatively common and will affect the new creditors ability to enforce the debt, but such mistakes are rectifiable so I wouldn't get too bogged down with that element.

If they do not comply with your s.78 request, this means that the debt cannot be legally enforced. i.e. county court judgment or statutory demand. Anything else, including telephone calls, letters, texts, vague threats and defaults on your credit file are 'fair game' and not considered enforcement.

Effectively the debt is in limbo and if you cease making payments, it will become statute barred under The Limitation Act 1980 in six years.